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WA SB6132
Bill
Status
3/12/2026
Primary Sponsor
Judith Warnick
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AI Summary
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Allows qualifying port districts to issue an additional 0.25% of taxable property value in general obligation bonds without voter approval, beyond existing debt limits
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Eligibility requires the port district to have created a tax increment financing area under chapter 39.114 RCW
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Port district must have an estimated taxable assessed value between $6 billion and $7 billion in the year the increment area is established
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Properties within the increment area must have an estimated taxable assessed value under $150 million when the increment area is adopted
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Additional borrowing authority may only be used for financing public improvements under the tax increment financing statute (chapter 39.114 RCW)
Legislative Description
Authorizing a narrow modification to indebtedness limits for select inland port districts to ensure continued eligibility for federal funding for rail, power, and other critical public infrastructure improvements.
Last Action
Delivered to Governor.
3/12/2026